Thursday, November 3, 2011
Rockwell Collins 4Q net income up 17 percent
The company said Friday that its net income for the quarter that ended Sept. 30 was $175 million, or $1.13 per share, compared to $150 million, or 94 cents per share, during the same period last year.
Rockwell Collins said its revenue rose 2 percent, to $1.3 billion, compared to $1.27 billion during the prior year period.
Analysts on average expected earnings of $1.14 per share on sales of $1.31 billion, according to FactSet.
Rockwell Collins designs and builds communication systems used by aviation companies and government agencies. Sales in the commercial division rose 9 percent to $517 million during the quarter, while sales to government clients fell 2.4 percent to $779 million.
CEO Clay Jones said 2012 revenue will rely on stronger commercial sales, and the company will try to offset weakness in its government business by boosting its profit margins.
The company said its net income for the full fiscal year was $634 million, or $4.06 per share, compared to $561 million, or $3.52 per share, the year before.
Revenue for the year rose 4 percent to $4.81 billion, from $4.63 billion the year before. Commercial sales were up 13 percent, while government sales fell 2 percent during the year, the company said.
Analysts had expected full-year net income of $4.06 per share on $4.83 billion in revenue.
Shares of Rockwell Collins fell 15 cents to close Friday at $55.81.
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